MASTER SERVICER

The State Fiscal Accountability Authority, on behalf of the South Carolina State Housing Finance and Development Authority (SC Housing), is seeking a Master Servicer for its Single-Family Mortgage-Backed Securities Program located in Richland County. The selected vendor will purchase residential mortgage loans daily from approximately 130 approved lending partners, facilitate weekly or bi-monthly mortgage-backed securities issuance for FNMA, FHLMC, and GNMA, and service conventional and government-backed mortgage loans. Key deliverables include purchasing, pooling, selling, and servicing mortgage loans, including FHA-insured, VA-guaranteed, USDA-RD guaranteed, and conventional loans, as well as managing down payment assistance second mortgage loans. Offerors must demonstrate extensive qualifications in underwriting, closing, shipping, purchase, securitization, and servicing of residential mortgage loans, and provide three references showing Master Servicer experience within the past five years. The proposal submission deadline is September 17, 2025, at 11:00 a.m. EST, with a pre-proposal conference scheduled for August 28, 2025, at 10:00 a.m. EST. Questions from potential bidders must be submitted by August 28, 2025, at 4:00 p.m. EST, and the award is anticipated to be posted on October 23, 2025.

The solicitation does not specify set-aside designations or restrictions for specific enterprise types. The incumbent contractor is Lakeview Loan Servicing, and the contract will run from November 4, 2025, through November 3, 2030, with one initial year and four potential one-year renewal options. The Master Servicer will not receive direct payments from SC Housing but will generate revenue through Servicing Release Premiums, administration fees split 50/50 with SC Housing, and loan servicing fees. Required insurance includes Commercial General Liability ($1,000,000 per occurrence), Auto Liability ($1,000,000 per accident), Workers' Compensation, and Information Security and Privacy coverage ($5,000,000 per occurrence/$10,000,000 aggregate). Offerors must provide audited financial statements, demonstrate approval from GNMA, Fannie Mae, and Freddie Mac, and have at least three years of experience with state and local housing finance agencies. While a specific contract value is not explicitly stated, the revenue model suggests potential earnings based on loan volumes, with an estimated 300 units at an average loan amount of $225,000 and an administration fee increasing from $400 to $500 per loan effective October 1, 2025.